Sonida Senior Living Inc Stock Price, News & Analysis

Sonida Senior Living (NYSE: SNDA) has announced a partnership with August Health to implement their EHR (Electronic Health Record) platform across all 94 Sonida communities. The initiative will impact nearly 10,000 residents and thousands of employees, introducing intelligent care workflows, documentation systems, and compliance management.

This strategic move follows Sonida's 30% portfolio growth in 2024. Several Sonida communities have already implemented August Health's platform, with positive results in daily operations and caregiving. The partnership aims to enhance clinical operations, streamline workflows, and enable data-driven decision-making.

Sonida operates 94 senior housing communities across 20 states, with an aggregate capacity of nearly 10,000 residents. Of these, 81 communities are owned (including joint ventures) and 13 are managed for third parties.

Sonida Senior Living (NYSE: SNDA), a leading senior living communities owner and operator, has announced its participation in Morgan Stanley's Annual Commercial Real Estate Conference. The event will take place on February 19th and 20th at Morgan Stanley Headquarters in New York City.

The company will be represented by Brandon Ribar (President & CEO), Kevin Detz (CFO), and Max Levy (CIO). Management will be available for one-on-one meetings with institutional investors during the conference, which can be scheduled through bank representatives.

Additionally, CEO Brandon Ribar will participate in a panel discussion titled 'Longevity and Senior Living' on February 19th from 10:15 a.m. to 10:55 a.m. EST.

Sonida Senior Living (NYSE: SNDA) has announced two significant developments: a new acquisition and a debt modification. The company acquired a senior living community in Cincinnati for $16.3 million ($198,000 per unit), a newly constructed facility completed in 2021 with 82 units. The property will create a campus-style setting with Sonida's adjacent Wellington facility, bringing their Cincinnati portfolio to five assets.

The acquisition was funded through $18.25 million in seller financing, including $2 million for capital expenditure, featuring an 84-month term with a 24-month interest waiver and 3% fixed interest-only rate thereafter. The facility is expected to open mid-2025.

Additionally, Sonida completed a Fannie Mae loan modification, extending maturities on $220.1 million of mortgage loans from December 2026 to January 2029. This modification includes a series of principal paydowns totaling $10 million through 2027, with loans maintaining a 4.35% blended interest rate.

Sonida Senior Living reported its Q3 2024 results, showing significant portfolio expansion and performance improvements. The company's same-store weighted average occupancy increased 210 basis points to 87.0% year-over-year. Q3 2024 revenue increased 6.6% to $66.9 million, while net loss improved to $13.8 million from $18.4 million in Q3 2023. Adjusted EBITDA grew 8.7% to $10.1 million. The company expanded its portfolio by 30% in six months through acquisitions and management agreements, including 19 senior living communities. In August 2024, Sonida raised $130.4 million through a common equity offering and secured a $150 million credit facility.

Sonida Senior Living (NYSE: SNDA) has completed two significant transactions: the acquisition of two senior living communities in Atlanta for $29.0 million and the discounted payoff of two mortgage loans. The newly acquired properties, located in Lawrenceville and Peachtree Corners, have an average asset age of 5 years and 86% occupancy, featuring 178 units of Assisted Living and Memory Care facilities. The purchase price represents $163,000 per unit. Additionally, the company executed a discounted payoff of $28.7 million in loans for $18.5 million, achieving a 36% discount. These transactions bring Sonida's year-to-date acquisitions to 19 properties, expanding their total portfolio to 93 communities.

Sonida Senior Living (NYSE: SNDA) has scheduled its third quarter 2024 earnings release for Wednesday, November 13, 2024, before market opening. The company will host a conference call and webcast at 11:00 a.m. Eastern Time to discuss financial performance and operating results. Investors can join via phone at (800) 715-9871 (international: +1 (646) 307-1963) using passcode 4619110. A webcast replay will be available on Sonida's IR website for 12 months, while a telephonic replay will be accessible for 7 days.

Sonida Senior Living (NYSE: SNDA) announced the appointment of Tabitha Bailey as senior vice president and chief legal officer, effective January 1, 2025. Bailey will succeed David Brickman, who is stepping down after 32 years with the company. Brickman will provide consulting services from January to June 2025 to ensure a smooth transition. Bailey, previously chief legal officer at Avantax, brings extensive experience in M&A and public company transactions, having led a $1.2B take-private merger. She will oversee all legal matters and support Sonida's growth strategy to expand its senior living portfolio.

Sonida Senior Living (NYSE: SNDA) has completed several strategic moves to expand its portfolio and financial capacity:

1. Acquired 8 senior living communities in the Southeast for $102.9 million, adding 555 units.

2. Signed an agreement to acquire 2 properties in Atlanta, GA for $29 million, adding 178 units.

3. Increased its revolving credit facility by $75 million to a total of $150 million.

These acquisitions bring Sonida's total operating portfolio to 91 communities, focusing on geographic densification in attractive markets. The newly acquired properties have favorable occupancy rates and RevPOR, with significant discounts to estimated replacement costs. The expanded credit facility provides additional financial flexibility for future growth.

Sonida Senior Living (NYSE: SNDA) announced its participation in the BofA Securities 2024 Global Real Estate Conference on September 12, 2024, at the Bank of America Tower in New York. Brandon Ribar, President and CEO, and Max Levy, Chief Investment Officer, will represent the company. The conference, hosted by BofA Global Research, features roundtable discussions, thematic panels on industry trends, and one-on-one meetings with over 140 global issuers.

Sonida, a leading owner, operator, and investor in senior living communities and services, will be available for one-on-one meetings during the event. Interested parties can schedule meetings through their bank representatives. This participation highlights Sonida's engagement with the investment community and its position in the senior living sector.